In March, the mortgage delinquency rate in Birmingham saw a decrease from the rate in March 2010. According to national research firm CoreLogic, 6.93 percent of mortgage loans in Birmingham were 90 days or more overdue in March. A year before, 7.22 percent...
Birmingham Bankruptcy
Options for managing debt
Alabama residents have several options for managing their debts. By choosing one of these options, one is able to take control of their current financial situation and move forward towards a debt-free life.One alternative to bankruptcy is debt negotiation....
Alabama county’s finances affected by recent tornado
The tornado that recently wreaked havoc in Alabama has also been predicted to have a negative impact on the state’s finances. Jefferson County, in particular, will be affected by the storms because the county was already facing the biggest municipal bankruptcy that...
Birmingham bank may file for Chapter 7 bankruptcy
Superior Bancorp, a Birmingham-based bank corporation, is contemplating bankruptcy after one of its main holdings was auctioned off by federal regulators. The subsidiary, Superior Bank, consisted of 73 banks, which were all sold to pay off creditors.According to...
Birmingham Aircraft Company Files for Chapter 11
Alabama Aircraft Industries, Inc., a company that is based out of Birmingham, has filed chapter 11 bankruptcy in order to reorganize their finances.The company began facing financial trouble when they lost $5.8 million in revenue. The company also had...
Homeowners Receive Assistance to Reduce Foreclosures
Governor Bentley of Alabama has created a program that would help to prevent future home foreclosures by assisting homeowners with their mortgages. The federally funded program will aid families for up to 12 months and will be short-term, one-time...
Alabama Ranks Tenth in Personal Debt
According to CareOne Services, the state of Alabama ranks number ten in the growing epidemic of personal and consumer debt.The citizens of Alabama had an average debt of $16,591, a number that included personal and credit card debts. The study did not include any debt...
Alabama counties top list of bankruptcy filings
Two Alabama counties ranked first and second on a list of U.S. counties with the highest number of bankruptcy filings in December 2010.Baldwin County held the highest bankruptcy rate of all U.S. counties at more than 7 times the national average for filings. Greene...
Economic downfall is at lowest rate in 18-months
The economic stress of the nation is at an 18-month low due to the gains in employment which have helped offset the country’s high foreclosure rates.In the 28 states and nearly 3,001 counties that were studied, stress fell 56 percent. A demand overseas for U.S....
Alabama unemployment rate drops
Alabama’s unemployment rate dropped to 9.2 percent in August, from 9.7 percent in July. This is the first time that Alabama’s rate has fallen below the national average — 9.6 percent — in more than a year.The Birmingham-Hoover metro area’s rate fell by a smaller...